Page 2 - Housing Sector

67% housing demand in Mumbai from affordable segment: Knight Frank-Naredco

Supply of such housing insufficient to meet demand, says study

Residential sales might see a slowdown as RBI hikes repo rate: Experts

The repo rate hike does not augur well for the real estate sector, especially the residential segment as it will result in increased mortgage rates.

China rolls out property policies to boost demand, fix real estate crisis

A flurry of Chinese cities are rolling out measures to boost housing demand, signaling the government's intention to arrest a property crisis.

Mahindra Lifespace aims 2.5-fold jump in housing sales bookings in 3 yrs

Realty firm Mahindra Lifespace Developers Ltd is targeting a 2.5-fold jump in its annual sales bookings to Rs 2,500 crore in the next three years on better housing demand, its MD and CEO Arvind Subramanian has said. Mumbai-based Mahindra Lifespace had achieved sales bookings of Rs 1,028 crore in the last financial year. In an interview with PTI, the company's Managing Director (MD) and Chief Executive Officer (CEO) Arvind Subramanian said: "We have started the first quarter with an extremely strong performance on all fronts". The company clocked Rs 600 crore of residential sales during the April-June quarter of the 2022-23 fiscal year against Rs 1,000 crore in the full previous year, he highlighted. The collections from customers were also healthy at about Rs 270 crore, while industrial leasing was worth Rs 118 crore in the June quarter. "The first quarter has set us up very well for the year. We are expecting very strong continued growth in quarter two and the rest of the year as

Chinese govt seeks to stabilise property market with loans, lower rates

Chinese banks lowered their benchmark lending rates while authorities stepped up support for the property market with additional loans, a govt-guided attempt at alleviating a worsening housing crisis

Rising rates pose near-term challenges: DLF chairman Rajiv Singh

He noted that the residential segment has witnessed structural recovery on strong demand and the credible players are gaining market share

Property registrations rise 15% in Mumbai municipal area in July

Registration of properties in Mumbai's municipal area grew 15 per cent to 11,339 units in July on better demand, according to Knight Frank India. It is also the highest level for the month of July in a decade. Out of the total registration of properties in Mumbai city (BMC area), Knight Frank India said that 86 per cent were contributed by residential segment and 10 per cent commercial. For July, the data has been collated till 3 pm of July 30. The registration contributed over Rs 829 crore to the state revenues. "The number of units registered in July 2022 was the best in a decade for the month of July," property consultant Knight Frank said in a statement. In July 2021, 9,822 units were registered. "With the looming inflation pressures, RBI opted for a cumulative repo rate hike of 90 basis points that has stretched home buyer affordability. However property registrations remain buoyant," Knight Frank India said. On month-on-month basis as well, the registration of properties

Air India offers to compensate staff facing eviction from housing colonies

Unions move Bombay HC to challenge the proposed ejection from colonies in Mumbai

Renting apartments gets costlier for companies with new GST rates in effect

The rent of apartments for top executives will attract an 18 per cent Goods and Services Tax (GST)

Domestic housing sector set to grow in next 5 years: PNB Housing Finance

The domestic housing sector is set to grow for the next five years after a lull of several years and the housing finance companies are well poised to tap this opportunity aided with sectoral reforms

Housing sales fall 15% in Apr-Jun in top 7 cities from previous quarter

As per the data, housing sales in Mumbai Metropolitan Region (MMR) fell 11 per cent to 25,785 units in April-June 2022 from 29,130 units in the previous quarter

Life may get tougher for mid, small size HFCs amid rising rates: Analysts

Analysts warn that housing finance companies (HFCs), which cater largely to affordable housing segment, may see some margin erosion

Rising mortgage rates won't hit housing sales in India, say experts

Higher mortgage rates will have a lower impact on the Indian housing market than in the US market, said Kotak Institutional Equities (KIE)

Housing, roads among biggest capex gainers in FY22, PMAY urban lags

FM Sitharaman had allocated Rs 48,000 cr to PMAY (urban and rural) for FY23. The govt then extended the deadline for the rural by two more years, and may have to do the same for urban

IIFL Finance up 8% after ADIA picks 20% in housing fin arm for Rs 2,200 cr

This is the second investment by ADIA in entities working in housing finance space in FY23. Last month, it concluded a deal to pick up 10% in HDFC Capital Advisors for Rs 184 cr

Builders expect slowdown in housing demand in short-term on RBI's rate hike

The RBI on Wednesday hiked the key benchmark rate by 50 basis points

Anarock's FY22 revenue up 32% on recovery in housing demand: Chairman Puri

Our revenue has grown to Rs 402 crore during the last fiscal from Rs 305 crore in the 2020-21 financial year: Anuj Puri

China cuts borrowing rate more than expected to revive housing sector

China, in a monthly fixing, lowered the five-year loan prime rate (LPR) by 15 basis points to 4.45%, the biggest reduction since China revamped the mechanism in 2019

Why purchasing a house early in your career can limit your options

Changing city to pursue better career options, or taking a sabbatical for higher studies becomes difficult

All 100 smart cities to get integrated command-control centre by Aug 15

Union Minister of Housing and Urban Affairs Hardeep Singh Puri on Monday said that 80 out of the 100 Smart Cities in the country have Integrated Command and Control Centres